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_After a public works storage
shed roof collapsed due to snow

. load last winter, the question of

building evaluation has become a
a concern to city staff. In the
case of the shed, other prevent-

ative work was carried out rather

than replacing the entire build-
ing, but the affair led city staff
and the insurance company offi-
cials to debate the hypothetical
value of replacement.

As a result, the city is slowly
working their way through an
evaluation of other city assets.

Over the years, changes and

additions have been made to
these buildings but their worth
has simply been adjusted
according to the cost of the work

done. Now city staff is con- J

cerned these evaluations may be
far from accurate.

making accurate. estimates of
worth for city hall, the public
works building, and the arena
and swimming pool. Values
currently placed on these build-
ings are $1.895 million for. city
hall, $888,720 for public works,
$3.91 million for the arena and
$3.536 for the swimming pool.
The tender call attracted two
offers, one from Steve Cullis

Appraisals Ltd., who said they

would do the job for $6,000 plus
GST. Cullis, however, stated
these conditions: "Should the
time involved be less than antic-
ipated, the cost would be less. If
for any reason the cost were to

If the buildings are evaluated

too high, insurance premiums
will be higher than they need to
be, and if it comes to an insur-
ance settlement the city would
only get the cost of replacement.
If the evaluations are too low,
the city would only get the value
listed on the insurance policy
and would be left to make up the
difference themselves.

In October, therefore, the city
called for bids from anyone
interested in taking on the job of

be higher we would advise you
immediately."

The second proposal came
from Lane Appraisals Lid.,
stating fees of $1,500 each for
appraisals on city hall and the
public works complex, and
$4,500 for an appraisal of the
arena and swimming pool; a
total of $7,500, 25 percent
higher than Cullis.

Included in the Lane offer was
this statement: "Following in-
spection and inventory of the
properties, we would provide
you with comprehensive descrip-
tive and valuation reports. The
replacement costs would be

¢ Having problems with your WCB claim?
¢ You can get free, confidential advice, when a
lWorkers’ Adviser visits Terrace on December 17.

* To make an appointment for a personal interview,
call the Government Agent's Office at 638-3200.

* The interviews will be held at the B.C. Access
Centre, 101 - 3220 Eby Street, Terrace.

For advice without an interview, contact Workers’
Adviser office in Richmond toll free 1-800-663-4261.

Terrace Review — Wednesday, December 4, 991 15

City seeks appraisal of major assets

estimated using our on-line
costing capability. After provid-
ing the initial cost estimates, the
data would be stored in our
database, such that we could
periodically provide you with
updated cost estimates for a
nominal fee."

City council sent the two pro-
posals to their Finance Com-
mittee, but the committee found

the bids impossible to compare,
At its regular meeting Nov. 25
city council tabled the matter

-and sent the entire project back

to city administration. Treasurer
Keith Norman has been asked to
obtain a sample from each firm
indicating exactly what type of
information the city would
receive and whether or not both
offers include future evaluation
at minimal cost.

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Boos Service, and

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